Compare successful and failed start-ups to draw conclusions for entrepreneurs and investors.

 

Please note that,

there are a dozen or more standard texts about entrepreneurial start-up. Authors are people such as Paul Burns, David Rae, David Kirby, Philip Wickham, Oviatt & McDougall, Bruce Barringer plus others. There is more than one journal, such as ‘Entrepreneurial Theory and Practice’. Many of these books/journals are illustrated with cases. You will find, looking them up, that a shelf-full of similar texts is on display in the library at the same Catalogue Number. Browse through these to pick the ones which interest you.

They supply you with some formulas for “How to start a business” and these formulas are well attested in the entrepreneurial literature to relate to what people actually do. Thus you can arrange a form of check list for yourself – a kind of ‘must do’ list covering the steps you think go towards making a start-up successful.

Basing your analysis on your own judgements about the best practice in launching, have a look at some cases, maybe from the books or from other sources. Analysing them will give you an idea about whether the subjects of the cases were following sound principals, or not.

Looking at the theory side, you probably realise that the entrepreneur’s market investigation and the match between the product and what customers want have some significance. As well as this, there are theories about what kind of characteristics the “entrepreneur” is supposed to possess. Wickham has written well about these. You may want to consider whether these ideas of the “entrepreneurial mind” are true and whether they are important.

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